AMD
Advanced Micro Devices, Inc.Close $284.49EOD onlyThis page reflects AMD options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Historical consensus-supported lens with full content, report chain context, and metric rail.
Outlook
Bullish bias: market-aligned call-heavy flow, large positive dealer GEX/DEX, and pinning gamma favor continuation toward upper precomputed ranges though spot above MP raises pullback risk.
Conflicts: High IV vs VIX and spot ~16.7% above MP increases pullback/tail risk
Regime Classification
Price Range Forecast
Key Levels
Dealer Positioning (GEX/DEX)
GEX: $+90.7M
DEX: +90.0M shares
Gamma flip: N/A
NTM gamma: Dealer GEX +$90.7M, DEX +90.0M shares — net long gamma/delta supporting upside and short-term pinning dynamics.
IV Analysis
IV vs VIX: IV is rich vs VIX ~19 and sector; buying vol is costly, favors selling or defined-risk structures.
Term structure: Front-month elevated with mild roll; kinks at weekly expiries align with pin dates (04/24, 05/01).
Skew: Skew mild-to-bullish; actionable: sell premium or use defined short-vol structures with disciplined hedges
Flow Analysis
Net premium: Mixed: P/C vol <1 but large short-dated put buys indicate premium outflow for protection, producing short-term bearish hedge demand while some call accumulation suggests offsetting bullish exposure.
Directional prints: 59 put 300 OTM 2026-04-24 — Very large Apr24 300 put (22.5k vol, 600 OI) — aggressive short-dated put buys (premium outflow); short-term bearish/hedge. 60.9 call 297.5 ITM 2026-04-24 — Large Apr24 297.5 call (19k vol, 2.1k OI) — call accumulation or spread activity, bullish exposure. 60.6 put 295 OTM 2026-04-24 — Apr24 295 put (12.8k vol, 139 OI) — very high vol/OI ratio, buy-heavy short-dated protection.
Unusual: 60.6 put 295 OTM 2026-04-24 — Extreme vol/OI on Apr24 295 put — likely aggressive protective buys. 61.7 put 292.5 OTM 2026-04-24 — High vol/OI on Apr24 292.5 put — short-dated tail-buy behavior. 60 put 300 OTM 2026-05-01 — May01 300 put notable flow and IV — longer-dated hedging interest.
Risks & Catalysts
Strategy Viability
| Strategy | Edge | Best Setup | Primary Risk |
|---|---|---|---|
| Put credit spread | Moderate-Strong | Sell 2026-05-15 $285.00/$250.00 put spread Why now: Short-dated-to-near-term put credit positioned to survive small post-earnings weakness while limiting downside | Vol spike or sharp mean reversion into MP can widen losses |
| Bull call spread | Moderate | Buy 2026-05-15 $315.00/$335.00 call spread Why now: Buy-call spread reduces cost vs naked calls while capturing move toward $320–327 area | Limited upside if large gap higher; IV rise inflates cost |
| Cash-secured put | Moderate | Sell 2026-05-15 $290.00 cash-secured put Why now: Sell single-month put slightly OTM to monetize bullish bias and set target entry around 300–305 | Assignment into a ~10–15% tail scenario or vol repricing |
| Bullish risk reversal | Conditional | Buy 2026-06-18 $330.00 call / sell 2026-06-18 $280.00 put Why now: Long-dated call funded by nearer-term OTM put aligns with dealer flow in call-heavy market | Short put tail risk and IV skew can make funding insufficient |
| Call calendar | Moderate-Weak | Sell 2026-05-08 $320.00 call / buy 2026-06-18 $320.00 call Why now: Harvest premium if gamma compresses post-earnings by selling the near-term and buying longer-term at same strike | IV spike in either leg or strong directional gap |
Top Plays
Watchlist Triggers
Tactical Summary
Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.
Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.
These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.